by Tim Delaney | Jun 5, 2016
The disease, not the cure In our last post, we talked about the tangle Valeant got into with its banks over financial reporting delays. But the company’s problems didn’t end with the banks, and the banks weren’t the only creditors affected. On April 12, Centerbridge...
by Tim Delaney | May 8, 2016
Valeant in trouble Valeant Pharmaceuticals has been a bit of a nightmare for customers, shareholders, and debt holders lately. Its strategy of acquiring established drugs, paying with debt, and doubling prices to cover the costs has provoked a furious response from...
by Tim Delaney | Feb 29, 2016
Citigroup analysts are calling the effect of falling oil prices on global financial markets “oilmegaddon.” We think the term works well to describe looming cash flow, dividend, and credit problems at major oil companies too. After peaking at $60.07 in June of 2015,...
by Tim Delaney | Jan 21, 2016
“The only function of economic forecasting is to make astrology look respectable,” John Kenneth Galbraith. A recent article in The Economist talks about the difficulties even the world’s best economists have forecasting economic growth. Approaches based on theory or...
by Tim Delaney | Oct 1, 2015
Toshiba Corporation has been caught cooking the books, overstating pre-tax profits by ¥1.5 billion over the last seven years. The scandal began with an inquiry by Japan’s market regulator, the Securities and Exchange Surveillance Commission, in February. Toshiba...
